BRANTFORD, June 24th, 2014 — Vault of Satoshi, Canada’s leading cryptocurrency exchange, announced June 20th that it is releasing the dividend-producing bitcoin investment, called Divcoin, today, June 24th. Instead of selling contracts that would otherwise bind users, Vault of Satoshi is representing mining contracts with a coin. Based out of their Brantford, Ontario headquarters, Vault of Satoshi will be mining bitcoins and paying out daily dividends to those who buy the coin. Vault of Satoshi is enabling the purchase of Divcoin starting June 20th, 2014 to both current clients and the public via their online site www.vaultofsatoshi.com.

Vault of Satoshi offers cloud-mining contracts to their clients, but dislikes the idea of binding contracts. “With Divcoins, we can offer the upside of joining a mining pool, without tying our clients to a fixed contract,” says Mike Curry, Co-Founder of Vault of Satoshi. “This enables users to buy and sell coins as they please, and enjoy daily payouts – dividends – with Divcoins.” Divcoins lets users save money and time that they would otherwise spend on their own mining equipment. It also allows users the flexibility to buy and sell coins as needed, as well as the convenience of purchasing the dividend-paying coin directly from their Vault of Satoshi account.

Divcoin is Vault of Satoshi’s first “coin” mining pool. Coins will be added as demand increases. The beta program, launching June 20th, will start with the issuance of 5,000 coins, sold at $5.00/coin. Divcoins can be purchased with Canadian and American dollars, as well as with bitcoin. Each coin represents 1gs/s of mining power. Each Divcoin mines bitcoin. Mike Curry expects a full return on investment per coin in as little as 6 months, but conservatively estimates the return within the first year. After the cost has been paid back, each coin will continue to pay out dividends as pure profit. Therefore, people buying Divcoin will profit the most in a buy-and-hold strategy. Of course, if users decide Divcoin is no longer of benefit to them, they can sell this coin to someone else, as it not a fixed contract.

Mike Curry, co-founder, expects Divcoin holders to earn an “approximate net average dividend (payout) of $0.02168 CAD paid out in bitcoin, daily, per 1 GH/s.” Divcoin’s dividend will decrease over time in parallel with the bitcoin difficulty.

About the Company:

Vault of Satoshi is Canada’s leading cryptocurrency exchange. Vault of Satoshi allows clients to safely and reliably trade fiat currencies (such as CAD, USD) for cryptocurrencies like Bitcoin and Litecoin with other members of the exchange.

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Ummm I’m sorry but where do you get that they are “Canada’s leading cryptocurrency exchange”? They provide a great service but http://www.cavirtex.com is still leading in volume and has been around a lot longer then VoS. They have spearheaded through all kinds of uncertainty in the bitcoin space over the years and now VoS gets to come in riding on their coat tails. Credit where credit is due.

hotdaugs

Vault of Satoshi is the leading exchange in Canada. Proof of Solvency, first to alt-coin market, unlimited trading, lower fees, first to work with Equifax, first to get an MSB license, etc. CaVirtex has not changed since it came out. Sorry.

http://www.dailydoge.org dailydoge

As others have already mentioned, VoS is considered to be light years ahead of its competition in terms of professionalism, transparency, quality of service, etc…

However, you are right. They don’t have the same volume CaVirtex does. Hopefully that will change soon.

joehater

The CEO of CaVirtex, Joseph, is a misleading and evil man. He wants to secure his dominance in the Canadian Marketplace through lobbying for regulations that will create future barriers to entry for new participants. As opposed, to building a business on the best product at the lowest price. He is the villain, in the Canadian story. He is a loser, and toast. I can’t say enough bad things about him. From how he treats shareholders, to how he treats customers.

Si

What is a gs/s, mentioned above, and how does it compare to GH/s?

Kyle Kemper

Will the divcoin be fixed price or market based like CEX.io?

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